, and The Minton CondoHDB shophouses are an option for local investors who don’t want to enter the strata commercial or shophouse space in Singapore. Mary Sai, executive director of capital markets of Knight Frank Singapore, notes that commercial shophouse prices in the CBD now average $5,000 – $6,000 psf, while fringe areas are commanding $3,000 psf. Meanwhile, strata commercial space in the CBD has hit record prices above $4,000 psf.

Knight Frank Singapore has the exclusive marketing agency for a portfolio of four HDB shophouses. Purchasable individually or as a complete portfolio, these four shophouses are located near Macpherson/Mattar, Hougang Avenue 1, Defu Lane, and Defu Avenue Industrial Estate. Two units at 88 Circuit Road in the Macpherson/Mattar precincts are two-storey HDB shops with living quarters above. They total a floor area of 1,184 sq ft, and have a 76-year lease with 45 years remaining. They also have a lower additional buyer’s stamp duty rate than pure residential units.

HDB is auctioning Altura EC, a 375-unit residential development in Bukit Batok with a 99-year lease. Bidding closes 8 March Altura EC Bukit Batok 2022 with close proximity to Bukit Batok MRT, bus interchange and schools.

At 102 Hougang Avenue 1 is a single-storey HDB shop with 1,001 sq ft of strata area and three tenants (an apparel shop, a hair salon, and an optical store), plus an additional 88-year lease with 59 years remaining. The asking price is $3.2 million. Across at 108 Hougang Avenue 1 is a two-storey HDB shop with 1,571 sq ft and a two-storey structure with living quarters above. The price is $3.4 million. Tenanted to a laundromat and a hair salon, plus a residence, they are close to The Minton Condo, and The Promenade @ Pelikat and Primo Residence condos, as well as the Kovan and Mattar MRT stations.

Because of these low prices, Sai sees these HDB shophouses as appealing to local investors looking for an alternative and the prospect of stable rental income. With conservation shophouses averaging $4.5 million, these HDB shops are an attractive option for Singaporean investors.